Current issues in economics

Bitcoin interview with Max Kaiser

Thanks to AS student Carlos McCoy for some information on Bitcoin. BITCOIN, the world’s “first decentralised digital currency”, was launched in 2009 and unlike traditional currencies, which are issued by central banks, Bitcoin has no central monetary authority. Instead it is underpinned by a peer-to-peer computer network made up of its users’ machines, akin to the networks that underpin BitTorrent, a file-sharing system, and Skype, an audio, video and chat service. However in today’s environment it does maintain a good store of value relatively speaking when you look at alternative currencies. Below is Max Keiser with some very good points.